Bitcoin Golden Cross May Signal A Market Turning Point

A technical signal absent since 2023 on bitcoin has just reappeared. This on-chain crossover, closely monitored by analysts, preceded the last major bullish phases of BTC. As the market tries to regain positive momentum, this return of the golden cross reignites speculation about a possible trend change. Investors are now scrutinizing Bitcoin’s next key levels in a climate mixing optimism and caution.

A golden cross rekindles memories of the 2023 rally

While optimism returns once again to the crypto market, bitcoin has just printed a new golden cross on the MVRV ratio, an on-chain indicator comparing BTC’s market value to its realized value. According to data relayed by CryptoQuant, this crossover between the short moving average and the 200-day moving average appears for the first time since 2023.

Analyst CW8900 considers “this signal as representative of a trend reversal and a bullish indicator”. Thus, he draws investors’ attention because previous occurrences had preceded strong bullish impulses in the bitcoin market.

Here are some key elements :

• The previous similar signal observed early 2023 preceded a roughly 90 % rise of bitcoin ;
• Another comparable configuration accompanied the recovery that led BTC to the peaks of the current cycle ;
• The market now watches the $82,500 area, corresponding to the 200-day moving average ;
• Analysts consider this threshold as a key technical level to confirm bullish momentum ;
• On-chain data show a gradual return of investor confidence after several weeks of consolidation.

The return of spot buyers fuels upward pressure on bitcoin

Beyond the technical signal, several market metrics show renewed activity among buyers. Spot Taker CVD data indicates a resumption of aggressive spot purchases, a behavior often linked to returning investor confidence. Meanwhile, the average acquisition cost of short-term bitcoin holders continues to rise. This signals that recent entrants are willing to buy bitcoin at higher levels than before. Such dynamics support the idea of a market gradually rebuilt around stronger demand.

Analysts are now monitoring several zones likely to serve as next major resistances, notably around $92,000 and $104,000. Despite this optimism, some operators remain cautious due to the still unstable macroeconomic and geopolitical context. Financial markets remain sensitive to announcements on US monetary policy as well as international tensions, two factors capable of triggering volatility in risky assets like bitcoin.

The return of a signal historically linked to the start of bullish rallies places the main crypto back at the center of crypto market expectations. However, nothing guarantees an immediate acceleration of the bitcoin price. BTC’s reaction around current technical levels could determine whether this golden cross truly marks the opening of a new bullish phase or if it is a simple rebound in an environment still fragile.